Religare Enterprises on investor radar

Shares of Religare Enterprises have jumped more than 50 per cent in the past six weeks amid the announcement that the company would raise ~570 crore through a preferential share allotment. Not just retail investors but FPIS too seem to have turned bullish on the counter. According to the website of NSDL, a firm that monitors overseas investment in listed companies, the foreign investment limit in Religare Enterprises has neared the maximum permissible limit of 30 per cent of its total equity. On June 11, NSDL put the stock on the so-called red flag list, which gets activated whenever the foreign holding is less than 3 per cent of the permissible limit.